Our team is working with a donor to establish a scholarship program for his employees. This is new to our foundation, and we want to ensure we set it up correctly. Is anyone willing to share their agreement language, criteria, scholarship committee makeup, process for working with HR to make sure you are meeting the percentage test, etc.?
It is my understanding that a DAF cannot fund grants to individuals/scholarships. If this donor has both a DAF and a scholarship fund, can he make annual interfund transfers to the scholarship fund out of his DAF? Does the IRS consider this to be the same thing?
If this has not been a topic for a Coffee Talk, how do we go about making the suggestion? I feel like this is something so many of us steer away from.
Many thanks for the guidance and resources - Happy Holidays to the Foundant family!